This was posted 2 years 11 months 5 days ago, and might be an out-dated deal.

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Bankwest $1500 First Home Buyer Boost (Minimum $200,000 Loan) + up to $1,000 Broker Rebate

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Bankwest $1500 First Home Buyer Boost (Minimum $200,000 Loan) + up to $1,000 Broker Rebate
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Store RepNick-AzuraFinancial @ Azura Financial on 18/01/2022 - 14:09 bankwest.com.au (214 clicks)
Last edited 18/01/2022 - 16:38 by 2 other users

Hi OzBargainers,

Happy New Year, I hope you all managed to enjoy some time off over the break!

I just wanted to make all the first home buyers out there aware of Bankwest' latest offering. You may be eligible if you are Australian residents 18 years or over and tick the below boxes in respect of a new Bankwest home loan:

  • Purchasing your first home in Australia and have not previously owned a residential or an investment property in Australia. (For joint home loan applicants, neither applicant can have previously owned a residential or investment property in Australia)

  • Lending must be for first home buyers only, new lending and new to Bankwest (refinances of home loans are excluded from this offer)

  • Lending must have a minimum loan to value ratio (LVR) of over 80% but not more than 98% (including Lenders’ Mortgage Insurance (LMI))

  • Home loan application must be submitted within the Promotional Period, which commences on Tuesday 18 January 2022 and closes on Thursday 17 March 2022

  • Home loan must be disbursed on or before Friday 30 September 2022. For construction loans a minimum of $5,000 must be disbursed on or before Friday 30 September 2022

  • Minimum home loan amount of $200,000 (excludes debt consolidation of personal loans and credit cards)

  • Repayment type must only be principal and interest, unless it’s a construction loan. For construction loans repayment type must be interest only until the loan is fully drawn

  • Lending must be for owner occupier loans (including construction loans)  

  • Not trust borrowers

  • Not purchasing only residential land

Further to Bankwest' offer I can confirm we would be happy to also offer you an additional rebate based off the below metrics:

  • $500,000 - $750,000 = $500
  • $750,000 - $1,000,000 = $1,000

If you are alternatively looking to purchase under the FHLDS (5% Deposit Scheme) or have existing lending you are looking to review please don't hesitate to get in touch!

Please feel free to email me at [email protected] or text/call me on 0422 699 383 and I would be happy to answer all finance related questions. We do work with a panel of over 40 lenders and will be able to find a home loan tailored to you.

Kind Regards,
Nicholas O’Sullivan
ACL: 389328
Azura Financial
https://www.azurafinancial.com.au/

Financial Cashback Home Loan Loan Rebate

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closed Comments

  • EBC on 18/01/2022 - 14:27

    Are the interest rates competitive to make this offer worthwhile?

    • Store RepNick-AzuraFinancial @ Azura Financial on 18/01/2022 - 14:33

      Hi EBC,

      Confirming rates are competitive subject to LVR.

      If you could please email me with a little more detail I will be able to quote rates more accurately.

      Thanks,

      Nick

      • samfisher5986 on 18/01/2022 - 15:22
        +5

        Why don't you post some examples as a guide?

        "competitive" is a marketing term.

        The terms you are allowed to use are "match" or "beat"

        • Store RepNick-AzuraFinancial @ Azura Financial on 19/01/2022 - 10:07

          Hi Sam,

          As mentioned above, rates are subject to loan amounts and LVR.

          When lending in LMI territory (over 80% as per the T&C's of this offer) rates are hard to quote.

          If you/anyone else would like me to request pricing from Bankwest based on your personal situation please get in touch so that I can request discretionary rates through their pricing tool.

          Thanks,

          Nick

          • samfisher5986 on 19/01/2022 - 10:51

            @Nick-AzuraFinancial: This is idiotic.

            You can't advertise a business as being a bargain but then refuse to explain how its a bargain because everyone has to contact you directly.

            Without rates this is false advertising.

            You are trying to trick customers.

            • Store RepNick-AzuraFinancial @ Azura Financial on 19/01/2022 - 10:55

              @samfisher5986: Hi Sam,

              If you visit the website below you can see these rate estimates below. Please remember that advertised rates are not indicative rates:

              Examples below:

              • Complete Variable Home Loan
                Variable rate for principal and interest repayments when borrowing up to 90% (including Lenders Mortgage Insurance) of property value
                2.99% p.a. 3.44% p.a.
              • Complete Variable Home Loan
                Variable rate for principal and interest repayments when borrowing 90% - 95% (including Lenders Mortgage Insurance) of property value
                2.99% p.a. 3.44% p.a.
              • Complete Variable Home Loan
                Variable rate for principal and interest repayments when borrowing 95% - 98% (including Lenders Mortgage Insurance) of property value
                4.62% p.a. 5.03% p.a.
              • Complete Fixed Home Loan
                1 year fixed rate for principal and interest repayments when borrowing up to 80% of property value
                2.29% p.a. 3.38% p.a.
              • wisc on 20/01/2022 - 12:18

                @Nick-AzuraFinancial: LOL, when other banks have 1.99% interest rates AND cashback, this really doesn't cut it.
                any cashback will quickly be eaten up by the crap interest rates.

                https://www.ozbargain.com.au/node/663322

                1.98 + $3288 Cashback for Refinancing…

                this is a terrible deal sorry!

                even at the lowest interest rate, and if it where only 200k borrowed, that's approx 1k per year in extra interest.

  • matictac on 18/01/2022 - 14:33
    +2

    Almost makes it worth paying 600k for a house worth 500k a year ago.

  • hotdogwater22 on 18/01/2022 - 14:33

    What's it like being a Mortgage Broker?

    • Store RepNick-AzuraFinancial @ Azura Financial on 18/01/2022 - 14:33

      It's a whole lot of fun Jr64. I love it!

      Nick

      • hotdogwater22 on 18/01/2022 - 14:36

        That's great - I'm thinking about studying for a Cert IV in Finance and Mortgage Broking to enter the industry, I currently have a background in the Investment/Banking field.

        Anything you would recommend when first entering the scene?

        • Store RepNick-AzuraFinancial @ Azura Financial on 18/01/2022 - 16:02

          Hi JR64,

          I'd likely recommend the below:

          • begin under a company with a well established and prove process and brand. You’ll learn best practice from the start.
          • allow for minimal business for the first 1-2years while you build your customer base
          • don’t rely on friends and family. Seek referral partners from the outset

          Nick

  • Androidrian on 18/01/2022 - 14:33

    Hi Nick, I can't seem to find any information of this deal on the Bankwest website that you linked. Is it written anywhere?

    • Store RepNick-AzuraFinancial @ Azura Financial on 18/01/2022 - 14:35
      +1

      Hi Androidrian,

      Extremely new offer, website has not been updated yet!

      Nick

      • Androidrian on 18/01/2022 - 14:38

        Thanks for the heads up! My broker is going to submit our application to Bankwest today but I might ask them to send it through tomorrow if we can get this

        • Store RepNick-AzuraFinancial @ Azura Financial on 19/01/2022 - 10:08

          Glad to hear! Best of luck with it!

          Bankwest are a great bank!

        • Catsfan070911 on 19/01/2022 - 12:49
          +1

          @Androidrian Just an FYI that I am with Bank West, I have 80% LVR or thereabouts and borrowed below 500k. I am an Owner Occupier. I have up to 9 Offset accounts available for the Variable Portion which offset 100%. The Fixed has no offset but you can redraw etc. My Fixed Rate is 1.89% for 2 years, however that was locked in last year in around June I believe. My Variable Rate was initially 2.73% but managed to have that lowered to 2.55% (ditched my mortgage broker who was no longer proactive after receiving their commission, i'm sure not all brokers are like this, but mine was). I'm in the middle of having that Variable rate lowered again.

          BankWest charge a $395 annual Package Fee for the Credit Card and Offset accounts attached to the account with the set up i'm on. My contact at BankWest is brilliant. Always responsive, reasonable and honest. I probably would have moved a while ago when I noticed better rates elsewhere if they were not.

          Just thought some of this information might be valuable for you given you are currently going through an application with them :)

          • Androidrian on 31/01/2022 - 16:52
            +1

            @Catsfan070911: I just saw this…2 weeks later! Thanks for the information and I'll make sure to keep on top of the broker.

            Much appreciated

            • Catsfan070911 on 31/01/2022 - 17:47
              +1

              @Androidrian: Hey @Androidrian, i'd message you personally but you don't have that enabled. No worries, just thought i'd update you that I managed to get a rate of 2.18% approved through BankWest last week (big improvement on that 2.55% they had me on) :).

  • dust on 18/01/2022 - 14:53
    +7

    Surely this deal needs an interest rate before it can be posted as a deal.

  • wisc on 18/01/2022 - 15:35
    +1

    My bank west rated were crap. Had to switch banks to get a reasonable rate. I really stayed with them for them for far to long.
    Make sure you check the rates as the cash back can be eaten really quickly on a bad rate.

  • Drakesy on 18/01/2022 - 16:09
    +4

    Rate?

  • Lunarboogie on 18/01/2022 - 18:41
    +2

    Without rates, this is click bait.

  • Banj0 on 18/01/2022 - 20:57
    +1

    Is that Baba Yaga's house?

    Oh…never mind. It's a dude underneath it. Thought it had legs.

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